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An act of insolvency need not be committed vis-à-vis the sequestrating creditor. Section 9(1) gives any creditor of the debtor the right to apply for sequestration once the debtor commits an act of insolvency—whether or not the debtor directed the act at the creditor concerned or intended it to have any bearing on that creditor's affairs.
Harksen v Lane NO and Others is an important decision of the Constitutional Court of South Africa, delivered on 7 October 1997.The court dismissed a challenge to the constitutionality of the Insolvency Act, 1936, finding that it was consistent with the right to property and right to equality for the property of a solvent spouse to be attached to the insolvent estate of his or her partner.
In South Africa, owners of businesses that had at any stage traded insolvently (i.e. that had a balance-sheet insolvency) become personally liable for the business's debts. Trading insolvently is often regarded as normal business practice in South Africa, as long as the business is able to fulfill its debt obligations when they fall due.
Insolvency practice was historically dominated by white men, [1] and section 158(2) of the Insolvency Act explicitly licensed the Minister to consider affirmative action in making the policy. The impugned clauses of the policy were related to these affirmative action considerations.
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The United States obligated nearly $440 million in assistance to South Africa in 2023, the most recent U.S. government da Trump to cut off funding for South Africa over expropriation act Skip to ...
Transvaal Liquor Licensing Ordinance Amendment (Sale of Liquor) Act, 1916: 12: University of South Africa Act, 1916: 13: University of Stellenbosch Act, 1916: 14: University of Cape Town Act, 1916: 15: Public Service Commission Act, 1916: 16: Transvaal and Orange Free State Land Settlements Act Further Amendment Act, 1916: 17: Railway Board Act ...
Unauthorized Expenditure (1920–1921) Act, 1922: 20: South-West Africa Railways and Harbours Act, 1922: 21: Land Settlement Acts Further Amendment Act, 1922: 22: South Africa Defence Act Amendment Act, 1922: 23: Income Tax Act, 1922: 24: South-West Africa Affairs Act, 1922: 25: South African Alkali and Lichtenburg Salt Pan Leases Act, 1922: 26 ...